Wix.com WIX announced new integrations with Meta’s social media platforms — WhatsApp, Instagram and Messenger. The integration allows Wix users to connect their business accounts directly to the Wix Inbox, which enables them to efficiently manage communication and interactions with their customers from one inbox.
The Wix Inbox, a customer relationship management (CRM) messaging tool, allows its users to view and respond to messages from various channels like Wix Chat on the Wix website, email and SMS. The current integration has added WhatsApp, Instagram and Messenger business pages to the list.
Wix Inbox also enables users to initiate chats with live site visitors and reach out to people in their contact lists. Also, business owners can extend their business communication by sending visitors attachments, coupons, payment requests and links to their products and services.
Wix.com Ltd. Price and Consensus
Wix.com Ltd. price-consensus-chart | Wix.com Ltd. Quote
Business owners can leverage the above-mentioned features to save time as well as build, strengthen and personalize relationships with their customers. The expanded social integrations allow users to receive communication and reply to all customer messages from the Wix dashboard.
The Wix CRM team is developing the Wix Inbox to include more channels and integrations. This will allow third parties to add more channels to the communication integrations and consolidate as one multichannel communications inbox, the company stated.
In conclusion, Wix’s integration with Meta’s social platforms helps Wix to tap the growing demand for the CRM market. Per a report from Grand View Research, the global customer relationship management market size was valued at $58.82 billion in 2022 and is expected to witness a CAGR of 13.9% from 2023 to 2030.
Wix is a cloud-based web development platform which offers solutions enabling businesses, organizations, professionals and individuals to develop customized websites and application platforms.
The company continues to pursue strategic partnerships to develop its products and services. In March, the company announced an extension of its partnership with Stripe, a leading online payment processing platform, to introduce Tap to Pay on iPhone to U.S.-based Wix merchants.
Wix.com currently carries a Zacks Rank #2 (Buy). Shares of the company have lost 9.5% compared with the sub-industry’s decline of 24.9% in the past year.
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Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Arista Networks ANET, Perion Network PERI and Pegasystems PEGA, each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks’ 2023 earnings is pegged at $5.79 per share, up 11.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 14.2%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have increased 21.2% in the past year.
The Zacks Consensus Estimate for Perion’s 2023 earnings has increased 16% in the past 60 days to $2.69 per share. The long-term earnings growth rate is anticipated to be 25%.
Perion’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 31.7%. Shares of PERI have increased 68.8% in the past year.
The Zacks Consensus Estimate for Pegasystems’ 2023 earnings is pegged at $1.35 per share, up 101.5% in the past 60 days.
Pegasystems’ earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average surprise being 11.2%. Shares of the company have declined 43.8% in the past year.
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